Managing Disbursement Challenges in Trust Administration: Fiduciary responsibilities, and legal considerations

Joanne Marcus
Joanne Marcus
Commonwealth Community Trust

Joanne Marcus, MSW, serves as the President and CEO of Commonwealth Community Trust (CCT).

Ben Tiefenback
Ben Tiefenback
Commonwealth Community Trust

Ben Tiefenback, Esq., is Counsel and Director of Client Services at Commonwealth Community Trust, a non-profit pooled trust administrator serving beneficiaries across the United States who are injured, vulnerable, or have special needs.

On-Demand: May 24, 2024

Managing Disbursement Challenges in Trust Administration: Fiduciary responsibilities, and legal considerations

$195.00 2 hour CLE

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Program Summary

This program provides invaluable insights into the complexities of managing disbursements within trust administration. Delving into the intricacies of fiduciary responsibilities and legal considerations, this resource equips trustees and administrators with strategic approaches to efficiently navigate disbursement challenges. From balancing beneficiaries' needs and desires to complying with regulatory frameworks, this guidance ensures prudent decision-making to safeguard trust assets and uphold the trust's objectives effectively.

This course is co-sponsored with myLawCLE.

Key topics to be discussed:

  • Regulatory Compliance: Understanding and adhering to legal requirements and regulations governing trust administration.
  • Investment Management: Strategies for managing trust assets to ensure growth and preservation of capital.
  • Risk Management: Identifying and mitigating risks associated with trust disbursements, including market volatility and liquidity concerns.
  • Fiduciary Responsibilities: Duties and obligations of trustees in overseeing trust disbursements and ensuring they align with beneficiaries' best interests.
  • Distribution Policies: Developing clear guidelines and policies for trust distributions to beneficiaries, considering their needs and the trust's objectives.
  • Tax Considerations: Minimizing tax implications associated with trust disbursements, including income, estate, and gift taxes.
  • Communication and Transparency: Establishing effective communication channels with beneficiaries and providing transparency regarding disbursement decisions.
  • Contingency Planning: Developing contingency plans for unforeseen events that may impact trust disbursements, such as market downturns or beneficiary disputes.
  • Technology and Automation: Leveraging technology and automation tools to streamline disbursement processes and enhance efficiency while ensuring accuracy and security.

Closed-captioning available

Speakers

Joanne Marcus, MSW_Commonwealth Community Trust_FedBarJoanne Marcus, MSW | Commonwealth Community Trust

Joanne Marcus, MSW, serves as the President and CEO of Commonwealth Community Trust (CCT). Ms. Marcus has worked in nonprofit administration since 1978 and has led CCT since 2000.

As an expert in the field of Pooled Special Needs Trust administration, Ms. Marcus has published numerous articles for professional organizations including The National Alliance on Mental Illness and The National Medicare Secondary Payer Network. Ms. Marcus is frequently asked to present to professional organizations and family groups nationwide including The National Academy of Elder Law Attorneys, The American Academy of Estate Planners, The United Spinal Association, and Stetson University College of Law.

CCT was founded in 1990. Under the leadership of Ms. Marcus, CCT has grown to serve close to 3,000 trust beneficiaries that are vulnerable, injured, or have special needs throughout the United States.

 

Ben Tiefenback_FedBarBen Tiefenback, Esq. | Commonwealth Community Trust

Ben Tiefenback, Esq., is Counsel and Director of Client Services at Commonwealth Community Trust, a non-profit pooled trust administrator serving beneficiaries across the United States who are injured, vulnerable, or have special needs.

Prior to joining CCT, Mr. Tiefenback was a trust and estate attorney at Sands Anderson PC and TrustBuilders Law Group. His practice focused on estate planning and trust creation and administration, with an emphasis on special needs trust planning due to his personal experiences with special needs issues in his family.

Agenda

I. Regulatory Compliance | 12:00pm – 12:12pm

II. Investment Management | 12:12 – 12:24pm

III. Risk Management | 12:24pm – 12:36pm

IV. Fiduciary Responsibilities | 12:36pm – 12:48pm

V. Distribution Policies | 12:48pm – 1:00pm

Break | 1:00pm – 1:10pm

VI. Tax Considerations | 1:10pm – 1:22pm

VII. Communication and Transparency | 1:22pm – 1:34pm

VIII. Contingency Planning | 1:34pm – 1:46pm

IX. Technology and Automation | 1:46pm – 1:58pm

X. Professional Collaboration | 1:58pm – 2:10pm